On Tuesday, South Korea's Kospi surged to an all-time high of 8,094.90 as trading resumed after a public holiday, buoyed by hopes for progress in U.S.-Iran negotiations. President Donald Trump indicated that talks were 'proceeding nicely,' although he cautioned that military action could resume if discussions falter.
This mixed sentiment was reflected in oil prices, with West Texas Intermediate futures dropping 5.37% to $91.41 per barrel, while Brent futures rose 1.75% to $97.82 per barrel. The U.S. Central Command's recent strikes on Iranian missile sites underscored the precarious nature of the negotiations.
In contrast, Japan's Nikkei 225 index experienced a slight decline of 0.18%, while Australia's S&P/ASX 200 fell 0.17%. U.S. stock futures showed positive movement, with the Dow Jones Industrial Average futures up 371 points, or 0.73%, indicating a potential rebound when markets reopen after the Memorial Day holiday